For anyone shaking there head out there, yes, I had consulted my workshop manual(s) and recommended I should refer to my non-existent label within the engine compartment
This is one case where the workshop manual is no use at all.
Since these cars were built the fuel has changed a lot. Normally you need a lot more initial timing. You can tell you have enough because the exhaust stops stinking and your clothes smell OK after you have been for a drive.
The more modified the engine (bigger camshaft) the more initial you need.
The problem with advancing for more initial timing is that you then often have too much at higher rpms. So you have to modify the distributor a bit to limit how much the distributor can advance.
The simplest way to set the timing on a completely standard car is to plug the vacuum advance and (using a good timing light with advance dial-in) set the timing to 34 degrees at 2500rpm. That will get you ballpark but you might still have a bit of a stinky exhaust.